Agnico Eagle Mines Limited $AEM Shares Sold by Steadtrust LLC

Steadtrust LLC trimmed its holdings in Agnico Eagle Mines Limited (NYSE:AEM) (TSE:AEM) by 3.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 88,600 shares of the mining company’s stock after selling 3,440 shares during the quarter. Agnico Eagle Mines accounts for approximately 10.1% of Steadtrust LLC’s investment portfolio, making the stock its biggest holding. Steadtrust LLC’s holdings in Agnico Eagle Mines were worth $14,934,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC raised its stake in shares of Agnico Eagle Mines by 381.3% during the 3rd quarter. True Wealth Design LLC now owns 154 shares of the mining company’s stock valued at $26,000 after buying an additional 122 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in shares of Agnico Eagle Mines by 59.7% in the third quarter. Blue Bell Private Wealth Management LLC now owns 198 shares of the mining company’s stock worth $33,000 after buying an additional 74 shares during the last quarter. MCF Advisors LLC acquired a new stake in Agnico Eagle Mines during the third quarter worth about $34,000. Caitlin John LLC acquired a new stake in Agnico Eagle Mines during the third quarter worth about $36,000. Finally, Addison Advisors LLC raised its position in Agnico Eagle Mines by 94.1% during the third quarter. Addison Advisors LLC now owns 229 shares of the mining company’s stock valued at $39,000 after acquiring an additional 111 shares in the last quarter. 68.34% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AEM has been the subject of a number of analyst reports. Erste Group Bank raised Agnico Eagle Mines from a “hold” rating to a “buy” rating in a report on Thursday, March 5th. Scotiabank reaffirmed an “outperform” rating and set a $280.00 price objective on shares of Agnico Eagle Mines in a research note on Tuesday, February 17th. TD Securities lifted their target price on shares of Agnico Eagle Mines from $241.00 to $251.00 and gave the company a “buy” rating in a report on Tuesday, March 3rd. Wall Street Zen cut shares of Agnico Eagle Mines from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 31st. Finally, Raymond James Financial restated an “outperform” rating and set a $225.00 price target on shares of Agnico Eagle Mines in a research report on Wednesday, January 14th. Three research analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $234.91.

Agnico Eagle Mines Price Performance

NYSE:AEM opened at $195.79 on Thursday. The stock has a 50 day moving average of $214.03 and a two-hundred day moving average of $182.63. Agnico Eagle Mines Limited has a 12 month low of $94.77 and a 12 month high of $255.24. The firm has a market cap of $98.10 billion, a P/E ratio of 22.05 and a beta of 0.61. The company has a current ratio of 2.02, a quick ratio of 1.33 and a debt-to-equity ratio of 0.01.

Agnico Eagle Mines (NYSE:AEM) (TSE:AEM) last released its earnings results on Thursday, February 12th. The mining company reported $2.69 earnings per share for the quarter, beating the consensus estimate of $2.56 by $0.13. The business had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.40 billion. Agnico Eagle Mines had a return on equity of 18.09% and a net margin of 37.47%.The business’s quarterly revenue was up 60.3% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 earnings per share. On average, analysts expect that Agnico Eagle Mines Limited will post 4.63 earnings per share for the current fiscal year.

Agnico Eagle Mines Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 16th. Shareholders of record on Monday, March 2nd were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Monday, March 2nd. This is an increase from Agnico Eagle Mines’s previous quarterly dividend of $0.40. Agnico Eagle Mines’s payout ratio is 20.27%.

About Agnico Eagle Mines

Agnico Eagle Mines Limited (NYSE: AEM) is a Canadian-based senior gold producer headquartered in Toronto, Ontario. The company is principally engaged in the exploration, development, production and reclamation of gold-bearing properties. Agnico Eagle pursues both greenfield and brownfield exploration to expand its resource base and operates a portfolio of producing mines and development projects to generate long-life gold production.

Its core business activities span the full mining lifecycle: grassroots and advanced-stage exploration, prefeasibility and feasibility studies, mine construction, underground and open-pit mining, ore processing and metal recovery, and post-mining reclamation and closure.